Sumitomo Corp. (8053), a Japanese trading company, will build three solar power stations in Japan with a combined capacity of 49 megawatts.
Sumitomo Mitsui Banking Corp. will provide project financing, according to a joint statement released today. The stations are estimated to cost about 18 billion yen ($180 million) in total.
One plant will be built in the northern prefecture of Hokkaido, in which Japan Petroleum Exploration Co. will also invest. Two will come up in Ehime and Fukuoka in southwestern Japan, according to the statement.
The plants will be completed by April 2015, according to the statement.
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